Bulletin: Atlas Iron Ratings Unaffected By Asset Write-Down Feb 13

FEATURED COMPANIES

AbstractSINGAPORE (Standard & Poor's) Feb. 21, 2013--Standard & Poor's Ratings Services said today that A$258 million in write-down of undeveloped assets does not affect its 'B+' corporate credit rating on Australia-based iron ore producer Atlas Iron Ltd. The write-down also does not affect our recovery rating of '3' and our 'B+' rating on its Term Loan B. The asset write-down is a noncash accounting charge, which does not affect the company's cash flow generating capacity over the next two years. We also estimate that the company's ratio of debt to debt plus equity will only increase moderately to about 21% for fiscal 2013, compared with 16%-18% under our previous base-case expectations. Atlas Iron's leverage continues to be modest for the...

Companies mentioned in this report are:- Atlas Iron Ltd.

Action: Bulletin

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: NewsThis product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

MAKING A DIFFERENCE

CHARITY PARTNERS

KEEP UP TO DATE

ON ALL THE LATEST PRODUCTS

Enter your email address:

TESTIMONIALS

The service and the response to the queries were up-to-date and quick. You provided all the required documents for processing the payments when required.<br/> The Customer Service Team is quick and responsive to customer queries.<br/> Thanks a lot.Anand KondalkarAsian Paints RepresentativeAsian Paints